Corpay (NYSE:CPAY) Issues FY 2024 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 18.900-19.100 for the period, compared to the consensus earnings per share estimate of 18.960. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.0 billion. Corpay also updated its FY24 guidance to $18.90-19.10 EPS.

Analyst Ratings Changes

Several brokerages have recently issued reports on CPAY. Morgan Stanley raised their price target on shares of Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. BMO Capital Markets increased their price target on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. William Blair upgraded Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group boosted their price target on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $356.79.

Corpay Price Performance

Corpay stock traded up $19.51 during mid-day trading on Friday, hitting $366.01. 1,210,700 shares of the company traded hands, compared to its average volume of 486,981. The stock has a fifty day moving average price of $325.93 and a 200-day moving average price of $296.43. The stock has a market cap of $25.41 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. Corpay has a one year low of $221.37 and a one year high of $375.35. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same period in the previous year, the business earned $3.85 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Corpay will post 17.96 earnings per share for the current fiscal year.

About Corpay

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.